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2146 Beachwood Terrace, Los Angeles, California 90068, Los Angeles, 90068 - 6 bed, 4 bath

2146 Beachwood Terrace, Los Angeles, California 90068 home-pic-0
ACTIVE$1,995,000
2146 Beachwood Terrace, Los Angeles, California 90068
6Beds
4Baths
3,032Sqft
5,423Lot
Year Built
1924
Close
-
List price
$2M
Original List price
$2M
Price/Sqft
$658
HOA
-
Days on market
-
Sold On
-
MLS number
21688580
Home ConditionExcellent
Features
Deck
Patio
View-

About this home

Possibly Over-Priced:The estimated price is 40% below the list price. We found 3 Cons,5 Pros. Rank: price - $2.00M(57th), sqft - 3032(74th), beds - 6(97th), baths - 4(65th).

This Beautiful 1920s Fully Restored with Designer Touch and Taste Is the Perfect Investment for a Sophisticated Owner Occupier to Generate Income and Live the Hollywood Lifestyle. Live Comfortably in a Prime Hollywood Location on a PRIVATE Cul De Sac that Offers Tremendous Neighborhood Hollywood Hills Views. The Property features Mature Landscaping with Immense Privacy. It really is a Sanctuary. The Property offers (2) 3 Bedroom Units and a Studio. The Many Features/Upgrades include Refined Hardwood Floors, Fresh Paint, Fully Upgraded Kitchens, In Unit Laundry, Fireplaces, Central Air, Private Balconies/Patios, Abundant Parking + Garage. Ultra Prime Hollywood Locale with Convenience to Studios, Restaurants, and the Cities Best Hiking Trails. | Per Seller: "Unit Mix: 2148 Beachwood Ter: 3 bed 1 bath (vacant), pro forma rent $4,250. 2146 Beachwood Ter: 3 bed 2 bath currently rented for $3,750 on a month to month Lease 2146 1/2 Beachwood Ter: studio (vacant), pro forma rent $1,800. Pro Forma GRM: 17.4.

Nearby schools

6/10
Cheremoya Avenue Elementary School
Public,•K-6•0.3mi
4/10
Grant Elementary School
Public,•K-6•0.8mi
4/10
Selma Avenue Elementary School
Public,•K-6•1.0mi
7/10
Los Feliz STEMM Magnet
Public,•K-6•1.6mi
8/10
Valley View Elementary School
Public,•K-6•1.7mi
7/10
Gardner Street Elementary School
Public,•K-6•1.9mi
8/10
R. L. Stevenson Elementary School
Public,•K-5•3.6mi
7/10
Rio Vista Elementary School
Public,•K-5•3.8mi
3/10
Joseph Le Conte Middle School
Public,•6-8•1.0mi
3/10
Hubert Howe Bancroft Middle School
Public,•6-8•1.7mi
6/10
Thomas Starr King Middle School
Public,•6-8•2.4mi
5/10
David Starr Jordan Middle School
Public,•6-8•3.9mi
6/10
Walter Reed Middle School
Public,•6-8•4.8mi
6/10
Hollywood Senior High School
Public,•9-12•1.3mi
8/10
John Marshall Senior High School
Public,•9-12•2.4mi
7/10
Fairfax Senior High School
Public,•9-12•2.9mi
7/10
Burroughs High School
Public,•9-12•4.2mi
6/10
Burbank Unified Independent Learning Academy (Buila)
Public,•7-12•5.0mi
8/10
North Hollywood Senior High School
Public,•9-12•5.5mi

Price History

Date
Event
Price
08/05/21
Sold
$1,900,000
11/15/12
Sold
$970,000
02/09/12
Sold
$995,000
05/23/03
Sold
$650,000
Condition Rating
Excellent
Despite being built in 1924, the property has undergone a 'fully restored with designer touch' renovation, as stated in the description. The images confirm this with fully upgraded, modern kitchens featuring white shaker cabinets, dark countertops, subway tile backsplash, and stainless steel appliances. Bathrooms are also updated with modern vanities and classic tile. Refined hardwood floors, fresh paint, and central air throughout indicate a comprehensive and recent overhaul, bringing the property to a virtually new standard in terms of interior quality and systems.
Pros & Cons

Pros

Income-Generating Multi-Unit: The property features two 3-bedroom units and a studio, offering significant income potential for an owner-occupier or investor, with two units currently vacant for immediate pro forma rent realization.
Prime Hollywood Hills Location: Situated on a private cul-de-sac in the Hollywood Hills, the property boasts tremendous neighborhood views, immense privacy, and convenient access to studios, restaurants, and hiking trails.
Extensive Restoration and Upgrades: This 1920s property has been fully restored with a designer touch, featuring refined hardwood floors, fresh paint, fully upgraded kitchens, in-unit laundry, fireplaces, and central air.
Desirable Amenities: Each unit benefits from private balconies/patios, and the property offers abundant parking plus a garage, along with mature landscaping, enhancing tenant appeal and resident comfort.
Owner-Occupier Investment Opportunity: The configuration allows a sophisticated owner-occupier to live comfortably in one unit while generating substantial income from the others, leveraging the prime location and restored condition.

Cons

Significant Overpricing: The listing price of $1,995,000 is substantially higher than the property's estimated value of $1,188,529.75, indicating a potential overvaluation of approximately 40%.
High Pro Forma GRM: A pro forma Gross Rent Multiplier (GRM) of 17.4 suggests a lower capitalization rate or yield compared to typical investment properties, which may deter pure investors seeking higher immediate returns.
Age of Structure: Despite being fully restored, the property was built in 1924, which may still present potential for unforeseen maintenance issues related to underlying older infrastructure or higher insurance costs compared to newer constructions.

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